Analysts Set Air Canada (TSE:AC) Price Target at C$23.79

Shares of Air Canada (TSE:AC) have been assigned an average rating of “Moderate Buy” from the thirteen analysts that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$23.75.

Several brokerages recently weighed in on AC. JPMorgan Chase & Co. dropped their price target on shares of Air Canada from C$41.00 to C$36.00 in a research report on Thursday, August 8th. Citigroup cut their target price on Air Canada from C$25.00 to C$21.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Scotiabank dropped their price objective on Air Canada from C$27.00 to C$21.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Jefferies Financial Group lowered their target price on shares of Air Canada from C$19.00 to C$16.00 and set a “hold” rating for the company in a report on Monday, August 12th. Finally, Royal Bank of Canada cut their price target on shares of Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 23rd.

Air Canada Stock Up 1.9 %

Shares of TSE:AC opened at C$15.70 on Tuesday. Air Canada has a 1 year low of C$14.47 and a 1 year high of C$20.97. The company has a debt-to-equity ratio of 1,070.99, a current ratio of 0.85 and a quick ratio of 1.06. The business’s 50-day moving average is C$15.97 and its 200-day moving average is C$17.64. The company has a market capitalization of C$5.63 billion, a price-to-earnings ratio of 3.50, a P/E/G ratio of 0.02 and a beta of 2.39.

Air Canada (TSE:AC) last issued its earnings results on Wednesday, August 7th. The company reported C$0.98 EPS for the quarter, beating the consensus estimate of C$0.85 by C$0.13. Air Canada had a return on equity of 603.77% and a net margin of 7.92%. The company had revenue of C$5.52 billion during the quarter, compared to the consensus estimate of C$5.55 billion. Equities research analysts predict that Air Canada will post 2.818854 earnings per share for the current year.

Insider Activity at Air Canada

In other Air Canada news, Senior Officer Christophe Hennebelle acquired 1,900 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was bought at an average price of C$15.70 per share, with a total value of C$29,830.00. 0.14% of the stock is owned by corporate insiders.

About Air Canada

Air Canada provides domestic, U.S. transborder, and international airline services. The company provides scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand names in the Canadian market, the Canada-U.S. transborder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.